The rumours of a new 16GB iPhone turned out to be true, as it's just gone on sale in the US Apple Store for $499. In all other respects, it's identical to the existing 8GB model, which is still available for $399. At the time of writing, there's no sign of it on Apple or O2's UK websites, but we're assured that it will be on sale here too imminently, where it'll cost £329.